Silvercorp Metals Inc. (NYSE:SVM) rebounds. Silvercorp Metals Inc. (NYSE:SVM) rebounded over 10% to $9.07 a share on high volume. The stock has been hammered off late on rumors of accounting fraud. Short interest in the stock has risen considerably.
Suspicion that the company reported different profit and loss figures on different exchanges has had the stock price under pressure with the stock losing more than 40% of its value amid surging silver prices. Yesterdays price recovery can be largely attributable to short covering, the stock is currently down 4% at 8.70.
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Liberty Media Corp. (NASDAQ:LINTA) gains on profitable quarter. Liberty Interactive group’s (NASDAQ:LINTB) revenue increased 9% to $2.2 billion and adjusted Operating Income before depreciation and amortization (OIBDA) increased 5% to $450 million, while operating income increased 5% to $288 million.
The company markets and sells a range of consumer products in the United States and internationally, primarily by means of televised shopping programs on its QVC networks and also via the Internet through its Websites. It also provides online content, products, and services to consumers, publishers, and advertisers.
The increase in revenue, adjusted OIBDA, and operating income for the quarter was due to favorable results at QVC and the eCommerce companies. These were much better than analyst estimates. The results were particularly encouraging amidst a challenging environment for the media sector at large. Shares rose more than 8% to $15.72. However, the stock is down 1.8% now. The entire media sector is having a tough day including Viacom (NYSE:VIA), Time Warner (NYSE:TWX), CBS (NYSE:CBS), The Walt Disney Company (NYSE:DIS), News Corp (NASDAQ:NWSA) and Netflix (NASDAQ:NFLX).
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Theravance Inc. (NASDAQ:THRX) rises on analyst upgrades. Shares of Theravance Inc. (NASDAQ:THRX) rose more than 6.5% after receiving several institutional upgrades. The stock had performed poorly over the last month, losing 17.04%. Theravance is a biopharmaceutical company with a pipeline of internally discovered and developed products.
The company also has strategic collaborations with pharmaceutical companies. Theravance is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas including respiratory disease, bacterial infections, and the central nervous system (NYSE:CNS).
The company has a strong cash position having cash equivalents of $284 Million against a total debt of $173 Million. The company has also recently seen insider buying to the tune of $2 Million.